What Is Your Time Worth?

Time...

Does your list seem to grow faster than you can cross things off? Whether it is to work more, finish a project, relax, or spend time with family, we all wish we had more time in the day. Your time is valuable, and some tasks often need delegating or contracting out to someone else. Letting go of tasks is sometimes difficult, but if you don't have enough time in the day, it has to be done to ensure you are successful. In the long run, delegating or contracting out some tasks helps to ensure the final product (and your sanity) will be better off!

When deciding if you should delegate or contract out a task or service, consider these factors:

• How much is your time actually worth?
• Can someone else do it better and quicker for a marginal price difference?
• Do you have the time and energy to complete it in the absolute best way possible?
• Can someone else do it better?
• How important is the task in question?
• What else is on your plate that needs your time that you may be more skilled at?
• Do you have the time and budget to invest in learning something new - and implement it without mistakes?
• How much time will that specific task actually take in reality?

While you probably already contract out some event services, let's take a look at your event technology. Just a few years ago, event technology was something that was simply a fun add-on to your event if you had the time. Since then, it has become a complete specialized industry of it's own, and a necessary facet of every event today. Event technology can no longer be put on the back burner. Attendees will base their event experience on the logistical smoothness and effectiveness they encounter during your event, and the event technology you put into place plays an integral part in this.

Expectation v. Reality

Using mobile apps as a specific example, many companies use the quick setup and intuitive design of their product as selling points. While these features may be true to set up a basic app, you can't forget everything else that goes into fully and seamlessly integrating that technology into your event, especially if you add in more advanced features. Just launching an app quickly does not guarantee it's success, nor does it get your attendees to adopt it on their own. To integrate your technology smoothly and seamlessly, and have it feel like a connected part of your event, there is much more behind-the-scenes work that needs to be considered such as a technology implementation, pre-event and on-site marketing plan. initial build out, content updates, testing, more content updates, pre-event and on-site attendee engagement, content moderating. attendee interaction and engagement, on-site attendee assistance and support, as well as more updates.

Attendees today expect magic when they use technology. They may not understand how it works, but they expect it to work flawlessly, and for it to be smooth and helpful, not clunky, buggy, and difficult to use. When implementing technology into your event, regardless of what it is, make sure that you have adequate time to do it fully and successfully. If you do not have the time or staff available to truly dedicate to your event technology, both pre-event and on-site, it may be time to delegate or contract that task to someone who does. Your attendees will expect it and be thankful!

To Contract or DIY - That Is The Question

Sometimes, the answer is easy. It is easy to decide you need an outside contractor for larger and prominent specialties such as furniture rentals, electricians, and catering. That is how is has always been. These have always been separate fields and trades, and are considered highly detailed specialities. Times are changing, though, and planners are now also finding themselves having to decide whether or not to hire a contractor to do something they used to do themselves just a few years ago. Over the past few years, though, specialty fields like event technology and sustainability have blossomed and grown into unique trades and even career paths. They have become very detailed and time consuming, and each can easily be considered a full time job, just like a caterer and electrician.

Making the decision to contract out something that you used to do yourself is sometimes difficult. The struggle is real. We understand the amount of pride and confidence that comes with being in the event industry. We also understand that as the industry changes and evolves. Planners are faced with balancing all of the new demands placed upon them. We know that, given the time, planners would be able to learn everything and understand these specialty fields. Time is the deciding factor in this situation. How valuable is your time to you? 

Here are a few ways that contractors like Power Event Group can help you:

• Give you more time in your day to do other things! Best gift ever! How many times have you said that you don't have enough time to get everything done?
• Contractors are already experts in their field and can do something in a fraction of the time it would take you to learn it or train someone else to do it.
• Contractors often have relationships they have already built within the industry, and can provide you with more options and possible discounts.
• They can work with you and smoothly integrate into your team, increasing your own possibilities and productivity.

Do you have other reasons you hire (or don't hire) contractors? Join the conversation by commenting below!

2017 - The Year of Specialized Event Planners - The Example

As we wrote in our bit last week, event planners are needing more and more specialties, and some have even begun to break the mold and create specialized event planning services. We realized we may need an example of what we were talking about - just to hit home a little more. Let's do a technology example, since that is where we have the most experience.

Picture this:
The event technology market is exploding and expanding at a furious pace. While some event planners love technology, they just don't have enough time in the day to dedicate to learning everything new that comes out and utilize that technology to it's fullest potential. Other planners are very uncertain about technology and don't know where to begin. Herein lies the problem. Some event technology companies sell the shiny new gadget to the tech-savvy planner that doesn't have the time to use it, or completely overwhelms the planner that doesn't understand it. Feel familiar?

In the end, the technology becomes a headache for both types of planners! It winds up not being implemented smoothly or fully, and attendees ultimately have problems and complaints. Yuck! This leaves a bad taste in everyone's mouth regarding the technology.

Meeting Professionals International (MPI) is beginning to see this specific trend as well. Below are some survey results they recently captured regarding technology use and event planners:

• Only 8% of event planners feel they are making the most out of their event technology
• Only 21% of event planners are confident about buying event technology solutions
• 60% of event planners say that it is not always easy to understand the capabilities and benefits for event tech from vendor communications

In most cases, the technology is actually not the problem. The problem lies in the understanding and implementation of it - and having the time in the day to do it all. This is how the times are changing. Fields like event technology have become so much more specialized and advanced from just five years ago. It takes more time and expertise to keep your event technology running smoothly and effectively. Using event technology is already a balancing act. Many attendees want to use it and enjoy it, as it has become a part of their everyday lives, but they have had so many negative event technology experiences in the past, they don't want to "try again". It is important for event planners to change that attendee experience into a more positive one.

As event planners that specialize in technology, Power Event Group assists you at any level necessary, whether it be consultation or by serving as your white labeled event technology department where we act as employees of your company. We are prepared and ready to handle the initial sourcing/contract conversations, the overall event technology design and build-out, communication with vendors and attendees, on-site implementation/monitoring, and even on-site staffing of an attendee Technology Command Center/Help Desk for any attendee needs. While we are there supporting and handling all of your technology needs, we are able to give back to you the most precious gift - time! How much is your time worth? How much more could you do with that extra time?

Regardless of your feelings towards it, event technology is not going away. It is up to the passionate event planners (and event technologists like ourselves) to help build a new atmosphere of event technology that attendees enjoy and embrace. The way things are now regarding event technology is not working. It is holding the industry back. You are not in this alone, though. We are here to help. We are here to help change the current status quo regarding event technology and turn it into an experience where attendees leave your event saying, "Yes! That is the way technology is supposed to work!"

2017 - The Year of Specialized Event Planners

A new trend is beginning to emerge in the event planning industry - event planners are beginning to become more specialized. They are specializing in fields such as Food & Beverage, Sustainability, Technology, and more.  As each field becomes more specialized and detailed, more expertise is also needed to keep up the expected level of performance in each individual field, and there is often simply not enough time in the day to keep up! In order to solve this problem, companies and independent event planners are beginning to hire outside contractors to fulfill these specialty niches and maintain the highest level of expertise possible. 

MPI seems to agree with this as well. According to surveys done by MPI International, 45% of event planners are increasing the amount of contractors they hire. We recently had the opportunity to attend an MPI Virginia educational session with by Jessie States, CMM, Manager of Professional Development, Meeting Professionals International. She went into further detail about the event planning industry, stating that as industries in general mature, they typically follow a five-level classification pattern: 1) not defined, 2) ad hoc, 3) repeatable, 4) defined, 5) managed and optimized. She continued by saying that "as our industry moves into its fully optimized stage, we find organizations and individuals shifting their foci from merely managing their meetings and events to strategically and thoughtfully integrating these programs into their overall businesses, and consistently improving and innovating them over time. This requires a shift from the mere management of events (Level 4), and it requires new skill sets that meet the demands of this ever-shifting marketplace. Specialists are called in to provide expertise in myriad areas, from technology and corporate social responsibility to experience and even learning design. Large organizations may fill these roles with full-time employees, while smaller organizations may look to consultants to answer their needs."

As the event planning industry evolves and grows, a new sub-culture within the industry has started to grow with it, as some of the specialized event planners have broken away from tradition and started new companies to help meet these new needs! In the past, the relationship has always just been between the buyer and the seller. The planner and the product. Two different worlds, regardless of how much you talk. This relationship is often strained to the point that planners no longer want to deal with vendors. Never fear - you now have other options! There are companies out there like Power Event Group that have your best interest in mind and fully understand their specific field as well. They are run by specialized event planners that serve as middlemen, or brokers, for you.

Times are changing. As we all strive to move our industry forward, MPI and Jessie agree that "[s]pecialists will drive our industry forward. They will help guide the events marketplace as key identifiers of trends and next practices." Regardless of what field you may need assistance with, if you are feeling more and more overwhelmed with the amount of details and expertise you need, remember that you are not alone. There are new companies out there that are not just selling a product. They truly have your best interest in mind and want to help make the event planning industry even better!